Nigeria’s Power Generation Companies (GenCos) has threatened shutdown of operations due Federal Government’s failure to settle over N4 trillion invoices. This was contained in a press statement the GenCos Board of Trustees (BoT), Chairman, Col Sani Bello (rtd) issued in Abuja. The statement said the GenCos are constrained to issue the press release to “draw…
An indigenous solar energy company, LPV Technologies, has called for a radical shift in government policy with a call for a zero-import approach to solar panels, arguing that only through local manufacturing can Nigeria truly secure its renewable energy future. Speaking at a press briefing at its newly inaugurated facility in Lagos at the weekend,…
Managing Director, Rural Electrification Agency (REA), Engr. Abba Aliyu has said the Federal Government has approved the establishment of N500 million Renewable Asset Management Company targeted at raising N1 trillion for intervention in the industry in the absence of loans and grants. He spoke during the signing of a Memorandum of Understanding (MoU) with 10…
The Nigerian Electricity Regulatory Commission (NERC) has issued an amended Order detailing new threshold of penalties for customers and Distribution Companies (DIsCos) on “Unauthorised Access, Meter Tampering, and By-Pass.” In a statement, the Amended Order, which replaces Order No: NERC/REG/41/2017, became effective since January 22, 2025. This amendment, the regulator said, “aligns with the Electricity…
Local manufacturers, acting under the aegis of Manufacturers Association of Nigeria (MAN) and Trade Union Congress (TUC) have rejected the proposed electricity tariff hike. They say the hike will seriously hurt the economy because local products will not be competitive with imported goods. MAN said incessant increase in electricity tariff is hindering the sector’s performance…
Ikeja Electric (IE) Plc has warned that it will no longer support the Unistar card meter and other outdated card meters under the Federal Government’s Meter Acquisition Fund (MAF) scheme. The utility firm, in a public notice on to its customers, warned that its technology might no longer support the Unistar card meter and any…
The Federal Government has outlined $23.2 billion energy investment target, which is expected to raise $15.5 billion from the private sector. It was part of the ambitious energy access programme that will see to the transformation of the nation’s energy sector. The programme which will ensure transformation of the sector is being spear-headed by the…
International lenders and partners this week committed another $8 billion in financing to a $48-billion project by the World Bank and African Development Bank (AfDB) to connect a total of 300 million people in Nigeria and the other African countries to electricity by 2030. AfDB Group and the World Bank Group plan to allocate $48…
Nigeria is taking bold steps to revive its faltering power sector, aiming to attract $15 billion in private investments while keeping its most vulnerable citizens in mind. At a World Bank energy summit in Tanzania, the government outlined a plan that combines higher electricity tariffs with fresh subsidies to ease the burden on households. Under…
